Restructuring at Komax Systems LCF SA, La Chaux-de-Fonds
(Thomson Reuters ONE) -
Komax Holding AG /
Restructuring at Komax Systems LCF SA, La Chaux-de-Fonds
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The issuer is solely responsible for the content of this announcement.
The management of Komax Systems LCF SA, La Chaux-de-Fonds, has decided to
implement cost-cutting measures in order to safeguard the company's long-term
survival. Around 40 of the 150-strong workforce are likely to be affected. These
employees will receive assistance from Komax.
2014 proved to be a difficult year for Komax Systems LCF SA (Komax Systems). The
site continued to suffer from the strength of the Swiss franc and the
postponement of investment decisions by a large number of customers. This
resulted in spare capacity that decreased the Medtech business unit's result by
a substantial amount.
The majority of Komax Systems' customers are in the euro zone, and the company's
position has grown more acute since the minimum Swiss franc-euro exchange rate
was abandoned by the Swiss National Bank in January. These developments
jeopardize the success of the steps that have been taken in the past three years
to improve efficiency and stabilize earnings. It is also apparent that these
steps will not be sufficient to ensure the company's long-term survival.
In the light of this new situation and the assessment that it will not be
possible to achieve planned sales and earnings targets, the management of Komax
Systems decided to modify the company's structures so as to achieve lasting cost
reductions. About 40 of the 150 people who work at the La Chaux-de-Fonds site
are likely to be affected. Komax Systems will ensure that the planned
redundancies are implemented in the most socially acceptable way possible. The
affected employees will receive assistance from Komax.
For further information, please contact:
Marco Knuchel Phone +41 41 455 06 16
Head Investor Relations / Corporate marco.knuchel(at)komaxgroup.com
Communications
The Komax Group is a global technology company that focuses on markets in the
automation sector. As a leading manufacturer of innovative and high-quality
solutions for the wire processing industry and systems for the assembly of self-
medication instruments, Komax helps its customers implement economical and safe
manufacturing processes, especially in the automotive supply and pharmaceutical
sectors. The Komax Group employs around 1 500 people worldwide and provides
sales and service support via subsidiaries and independent agents in around 60
countries.
The media release can be downloaded from the following link:
Media release (PDF):
http://hugin.info/100418/R/1903859/677140.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Komax Holding AG via GlobeNewswire
[HUG#1903859]
Unternehmensinformation / Kurzprofil:
Datum: 17.03.2015 - 07:02 Uhr
Sprache: Deutsch
News-ID 378896
Anzahl Zeichen: 3584
contact information:
Town:
Dierikon-LU
Kategorie:
Business News
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